Daner Wealth Management LLC Takes Position in Tesla, Inc. (NASDAQ:TSLA)

Daner Wealth Management LLC bought a new position in shares of Tesla, Inc. (NASDAQ:TSLA) during the 4th quarter, according to its most recent 13F filing with the SEC. The fund bought 556 shares of the electric vehicle producer’s stock, valued at approximately $223,000.

Several other hedge funds also recently added to or reduced their stakes in the business. Transcendent Capital Group LLC acquired a new position in shares of Tesla during the third quarter valued at about $29,000. Peterson Financial Group Inc. acquired a new stake in Tesla in the 3rd quarter worth approximately $35,000. Farmers & Merchants Trust Co of Chambersburg PA acquired a new position in Tesla during the 4th quarter valued at approximately $46,000. PayPay Securities Corp raised its holdings in shares of Tesla by 130.2% in the fourth quarter. PayPay Securities Corp now owns 122 shares of the electric vehicle producer’s stock worth $49,000 after buying an additional 69 shares during the last quarter. Finally, E Fund Management Hong Kong Co. Ltd. raised its holdings in shares of Tesla by 692.6% in the third quarter. E Fund Management Hong Kong Co. Ltd. now owns 214 shares of the electric vehicle producer’s stock worth $56,000 after buying an additional 187 shares during the last quarter. 66.20% of the stock is owned by institutional investors and hedge funds.

Tesla Price Performance

Shares of Tesla stock opened at $281.95 on Friday. The company has a debt-to-equity ratio of 0.08, a current ratio of 2.02 and a quick ratio of 1.61. The business has a 50 day simple moving average of $387.91 and a two-hundred day simple moving average of $315.28. The stock has a market capitalization of $906.90 billion, a P/E ratio of 138.21, a PEG ratio of 5.86 and a beta of 2.34. Tesla, Inc. has a 12 month low of $138.80 and a 12 month high of $488.54.

Tesla (NASDAQ:TSLA) last posted its quarterly earnings data on Wednesday, January 29th. The electric vehicle producer reported $0.66 EPS for the quarter, missing the consensus estimate of $0.74 by ($0.08). Tesla had a net margin of 7.26% and a return on equity of 10.31%. As a group, analysts predict that Tesla, Inc. will post 2.56 EPS for the current fiscal year.

Insider Activity

In other Tesla news, Director Kimbal Musk sold 75,000 shares of the business’s stock in a transaction on Thursday, February 6th. The stock was sold at an average price of $367.87, for a total transaction of $27,590,250.00. Following the transaction, the director now owns 1,463,220 shares of the company’s stock, valued at approximately $538,274,741.40. The trade was a 4.88 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Robyn M. Denholm sold 112,390 shares of the firm’s stock in a transaction on Monday, December 2nd. The stock was sold at an average price of $354.06, for a total value of $39,792,803.40. Following the completion of the sale, the director now directly owns 85,000 shares of the company’s stock, valued at $30,095,100. This trade represents a 56.94 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 523,386 shares of company stock worth $195,995,200 over the last three months. Insiders own 20.70% of the company’s stock.

Analyst Ratings Changes

TSLA has been the topic of several research reports. Barclays upped their target price on Tesla from $270.00 to $325.00 and gave the company an “equal weight” rating in a research report on Wednesday, January 15th. Canaccord Genuity Group increased their price objective on Tesla from $298.00 to $400.00 and gave the company a “buy” rating in a report on Friday, January 3rd. Cantor Fitzgerald reaffirmed a “neutral” rating and set a $365.00 target price on shares of Tesla in a report on Wednesday, January 29th. Evercore ISI increased their price target on shares of Tesla from $195.00 to $275.00 and gave the stock an “in-line” rating in a report on Friday, January 3rd. Finally, The Goldman Sachs Group restated a “cautious” rating on shares of Tesla in a research note on Monday, February 10th. Ten analysts have rated the stock with a sell rating, eleven have issued a hold rating, sixteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $319.57.

About Tesla

Tesla, Inc designs, develops, manufactures, leases, and sells electric vehicles, and energy generation and storage systems in the United States, China, and internationally. The company operates in two segments, Automotive, and Energy Generation and Storage. The Automotive segment offers electric vehicles, as well as sells automotive regulatory credits; and non-warranty after-sales vehicle, used vehicles, body shop and parts, supercharging, retail merchandise, and vehicle insurance services.